FIIs reduce stake in Unitech to 16.95% in Q2FY16

FIIs reduce stake in Unitech to 16.95% in Q2FY16

DIIs have also trimmed their stake in the company by 65 basis points to 2.61 percent at the end of September 2015 quarter
Foreign institutional investors (FIIs) have reduced their stake in Unitech by 274 basis points to 16.95 percent in Q2FY16 as compared to 19.69 percent in Q1FY16. Domestic institutional investors (DIIs) have also trimmed their stake in the company by 65 basis points to 2.61 percent at the end of September 2015 quarter from 3.26 percent as on June 30, 2015.

Meanwhile, non institutions were holding 49.16 percent stake at the end of September 2015 quarter, up 472 basis points from 44.44 percent as on June 30, 2015, while the corporate bodies were holding 10.86 percent stake at the end of September 2015 quarter, down 118 basis points from 12.04 percent as on June 30, 2015. Further, the company’s promoters have reduced shareholding by 133 basis points to 31.28 percent at the end of September 2015 quarter from 32.61 percent as on June 30, 2015.

Unitech, being one of the leading real estate companies, has several business segments relating to residential, commercial, Information Technology (IT) parks, retail, amusement parks, etc, with over four decades of achievement and continues to be a prominent player with high degree of quality and affordable real estate in the Indian market space.
source: ventura